Looking to get started in investing for my family
I currently have about $100,000 in equity in a home I am about to rent out. My mortgage payment is $1500 at 2.87% and I can get about $1800 for rent. My question is this, should I take out a HELOC loan at a higher percentage rate and use it to invest in other properties? Living in the Austin, Tx area, prices aren't that low to do a lot of BRRR's. I'm ok in doing LTR, MTR, and STR in Texas. Any and all ideas are welcome.
Most Popular Reply
HELOC right now would be anywhere in the 7-9% range... so question is - will you be able to leverage that money at that rate to get a better return?